Bank of China and ICBC ready bids for DVB

Bank of China and ICBC ready bids for DVB

Two big names in Chinese banking have emerged as possible buyers of German ship finance giant, DVB Bank.

Bank of China and ICBC are expected to lodge bids for DVB shortly. DVB’s parent DZ Bank has hired Goldman Sachs to explore a sale of the ship financier.

DVB’s possible sale follows hot on the heels of another big name in German ship finance, HSH Nordbank, being sold to two American private equity concerns.

Chinese ship finance has rapidly replaced the gap left by many departing European banks in recent years.

“The fact is shipping is not short of available loans, you just have to look east. The taps get turned on to keep yards busy,” Splash’s finance columnist Dagfinn Lunde wrote in a recent article carried on this site.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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